Many companies are beginning to focus on developing various types of inter-organizational innovation programs, and in some cases, these programs have been around for years. These programs have often involved external parties such as startups. In fact, they have produced a stream of inter-organizational improvements, and brought to life new products, new services, and innovative ideas. It’s a win-win relationship, in which both parties - big companies and startups - are able to derive valuable advantages. This is because companies can align themselves with the entrepreneurial and innovative spirit of startups, and attain constant progress, while startups get resources and the necessary support to scale into the market.
In an interview with Fátima Cardoso, we learned about how Vodafone Portugal helps foster and build innovation.
Vodafone Power Lab is Vodafone's open innovation program, created together with Audax-ISCTE. Starting in 2009, it has evolved and grown in its support for the Portuguese innovation ecosystem. Its main goal is to create partnerships with new projects whose scope and results are suited to Vodafone's business strategy and activities. Here are some highlights of the interview:
They hone their focus and face their challenges